Latest news with #SalimalHabsi
Zawya
15-04-2025
- Business
- Zawya
IFC signs 3 agreements to support Oman's green economy goals
Muscat – T he International Finance Corporation (IFC), a member of the World Bank Group, on Monday signed three partnership agreements with Omani entities to support sustainable investment opportunities in the sultanate. These agreements aim to strengthen sustainable finance in Oman and promote private sector growth by creating jobs and driving economic diversification. The agreements were signed on the sidelines of World Bank Group Day, hosted by Oman's Ministry of Finance. The event brought together representatives from the World Bank Group, IFC, and the Multilateral Investment Guarantee Agency (MIGA), as well as officials from the public and private sectors. The opening ceremony was held under the auspices of H E Sultan Salim al Habsi, Minister of Finance. The gathering formed part of ongoing efforts to boost growth in Oman's public and private sectors. The Ministry of Finance plays a pivotal role in supporting these efforts by cultivating a sustainable investment and development environment that aligns with the objectives of Oman Vision 2040. The first agreement, signed between the IFC and Future Fund Oman (FFO), aims to explore and develop joint investments in several key sectors, including sustainable green manufacturing, clean energy, tourism, logistics, agribusiness, and healthcare. This initiative supports economic diversification and helps to enhance non-oil revenue streams. The second agreement, signed between the IFC and National Finance Company, provides a total of $120mn to support sustainable projects in Oman, including initiatives in clean transportation, renewable energy, and energy and water efficiency for both individuals and SMEs. In addition, the IFC signed a cooperation agreement with United Solar Polysilicon (USP) to support the development of a $1.6bn greenfield polysilicon plant in Sohar, with a planned capacity of 100,000 tonnes per annum. This project aims to diversify and expand global supply chains in the solar energy sector, making it one of the largest polysilicon production facilities outside East Asia. The event also featured two workshops. The first focused on strategies to strengthen the private sector's role in the national economy, highlighting its importance in achieving sustainable development in Oman. The second workshop showcased the IFC's role in supporting the private sector through financing and technical advisory services. These efforts contribute to the national objectives outlined in Oman Vision 2040, particularly those related to sustainable growth. In his address, Mahmoud Abdullah al Awaini, Secretary General of the Ministry of Finance, affirmed that the event reflects a broader commitment to promote sustainable economic development and unlock new growth opportunities for both the public and private sectors in Oman, leveraging strategic partnerships with the World Bank and the IFC. He added that the event marks a key milestone in ongoing dialogue with the IFC and the World Bank, ensuring that Omani companies can benefit from global expertise, a range of financial solutions, and strategic guidance. Aftab Ahmed, Regional Director for the Middle East, Afghanistan, and Pakistan at the International Finance Corporation, said, 'These new agreements not only underscore Oman's growing role in the region but also reflect strong investor confidence in the country's economic potential.' He further noted that the signing of the three agreements is part of the IFC's broader efforts to strengthen its cooperation with Oman.
Muscat Daily
14-04-2025
- Business
- Muscat Daily
IFC signs 3 agreements to support sultanate's green economy goals
Muscat – The International Finance Corporation (IFC), a member of the World Bank Group, on Monday signed three partnership agreements with Omani entities to support sustainable investment opportunities in the sultanate. These agreements aim to strengthen sustainable finance in Oman and promote private sector growth by creating jobs and driving economic diversification. The agreements were signed on the sidelines of World Bank Group Day , hosted by Oman's Ministry of Finance. The event brought together representatives from the World Bank Group, IFC, and the Multilateral Investment Guarantee Agency (MIGA), as well as officials from the public and private sectors. The opening ceremony was held under the auspices of H E Sultan Salim al Habsi, Minister of Finance. The gathering formed part of ongoing efforts to boost growth in Oman's public and private sectors. The Ministry of Finance plays a pivotal role in supporting these efforts by cultivating a sustainable investment and development environment that aligns with the objectives of Oman Vision 2040. The first agreement, signed between the IFC and Future Fund Oman (FFO), aims to explore and develop joint investments in several key sectors, including sustainable green manufacturing, clean energy, tourism, logistics, agribusiness, and healthcare. This initiative supports economic diversification and helps to enhance non-oil revenue streams. The second agreement, signed between the IFC and National Finance Company, provides a total of $120mn to support sustainable projects in Oman, including initiatives in clean transportation, renewable energy, and energy and water efficiency for both individuals and SMEs. In addition, the IFC signed a cooperation agreement with United Solar Polysilicon (USP) to support the development of a $1.6bn greenfield polysilicon plant in Sohar, with a planned capacity of 100,000 tonnes per annum. This project aims to diversify and expand global supply chains in the solar energy sector, making it one of the largest polysilicon production facilities outside East Asia. The event also featured two workshops. The first focused on strategies to strengthen the private sector's role in the national economy, highlighting its importance in achieving sustainable development in Oman. The second workshop showcased the IFC's role in supporting the private sector through financing and technical advisory services. These efforts contribute to the national objectives outlined in Oman Vision 2040, particularly those related to sustainable growth. In his address, Mahmoud Abdullah al Awaini, Secretary General of the Ministry of Finance, affirmed that the event reflects a broader commitment to promote sustainable economic development and unlock new growth opportunities for both the public and private sectors in Oman, leveraging strategic partnerships with the World Bank and the IFC. He added that the event marks a key milestone in ongoing dialogue with the IFC and the World Bank, ensuring that Omani companies can benefit from global expertise, a range of financial solutions, and strategic guidance. Aftab Ahmed, Regional Director for the Middle East, Afghanistan, and Pakistan at the International Finance Corporation, said, 'These new agreements not only underscore Oman's growing role in the region but also reflect strong investor confidence in the country's economic potential.' He further noted that the signing of the three agreements is part of the IFC's broader efforts to strengthen its cooperation with Oman.
Muscat Daily
09-03-2025
- Health
- Muscat Daily
Gift of life in month of giving
Muscat – Muscat governorate needs around 120 units of blood daily and more than 6,000 units monthly. With blood donations dropping drastically during Ramadan, the Department of Blood Bank Services has issued an urgent appeal for blood and platelet donations. What can be done to encourage more donations during the holy month? Here is what Muscat Daily readers said – Salim al Habsi, Teacher One way to boost donations is to set up mobile blood donation units near mosques and iftar tents. People can donate after breaking their fast in a convenient and accessible location. Employers can also encourage their staff to donate blood. Mariam al Balushi, Homemaker Social media campaigns and community leaders should play a role in spreading awareness. Hosting blood donation challenges where groups or companies compete to donate the most units can make it more engaging. Highlighting success stories of those saved by blood donations can inspire people. Ahmed al Hinai, Businessman Many people believe that donating blood while fasting weakens them. To encourage donations, hospitals can organise post-iftar donation drives. Awareness campaigns should highlight the fact that donating blood does not invalidate fasting. Religious scholars can also educate people on the rewards of saving lives during Ramadan. John Carter, Engineer Blood donation centres should offer incentives such as free health check-ups or small tokens of appreciation for donors. If people know they are getting a health benefit along with saving lives, they may be more motivated. Partnering with restaurants to offer post-donation refreshments can also help. Rajesh Kumar, Salesman In India, community-driven blood donation camps are popular. A similar approach in Oman can work – collaborating with community groups and religious organisations to organise group donations after iftar. Providing transportation to donation centres could also encourage more participation. Zainab Shaikh, Social Worker Many women hesitate to donate due to myths about weakness. More awareness programmes targeting women can help dispel these misconceptions. Also, having donation centres near shopping malls or Ramadan markets could make it easier for people to donate while they are out.
